I’m sure most of you heard the big news this morning about how Trump is going to take down Big Pharma.
As a not-huge-fan of the guy, I was thinking to myself, “Ya know, this is actually pretty cool. Maybe there’s more to this person than I thought and he’s going to make a really positive difference.” I started to teeter.
As the world awaiting the mega-rally today, the one sector they knew would be out in the cold was going to be drug companies, and indeed they fell hard all over the world. Take a look, however, at what happened a few hours after this big announcement came out.
What you see isn’t me. It isn’t political opinion. It isn’t snark. It’s one simply truth.
The market doesn’t believe his EO is going to do a damned thing to Big Pharma, no matter how big a Sharpie he uses to sign the paper. His declaration was quickly deemed to be not credible, not meaningful, and not important.
Big Pharma keeps on winning, just like always.
